Related papers: A Locational Marginal Pricing Mechanism for Uncert…
This paper introduces a unified micro-level stochastic framework for the joint modeling of loss reserves (RBNS), incurred but not reported (IBNR) reserves, and unearned premium risk under dependence, inflation, and discounting. The proposed…
The short-term forecasting of real-time locational marginal price (LMP) and network congestion is considered from a system operator perspective. A new probabilistic forecasting technique is proposed based on a multiparametric programming…
Multi-energy microgrid (MEMG) offers an effective approach to deal with energy demand diversification and new energy consumption on the consumer side. In MEMG, it is critical to deploy an energy management system (EMS) for efficient…
UE localization has proven its implications on multitude of use cases ranging from emergency call localization to new and emerging use cases in industrial IoT. To support plethora of use cases Radio Access Technology (RAT)-based positioning…
Locational marginal emissions rates (LMEs) estimate the rate of change in emissions due to a small change in demand in a transmission network, and are an important metric for assessing the impact of various energy policies or interventions.…
Finding clear economic signals for distribution-network operation and expansion is increasingly important as single-phase loads and distributed energy resources escalate. These devices create phase-to-phase imbalances that manifest as…
Energy storage promotes the integration of renewables by operating with charge and discharge policies that balance an intermittent power supply. A key challenge in this emerging sector is how to optimize the operation of storage assets…
Short-term electricity price forecasting has become important for demand side management and power generation scheduling. Especially as the electricity market becomes more competitive, a more accurate price prediction than the day-ahead…
In countries with an extended use of district heating (DH), the integrated operation of DH and power systems can increase the flexibility of the power system achieving a higher integration of renewable energy sources (RES). DH operators can…
Accurately forecasting electricity price volatility is crucial for effective risk management and decision-making. Traditional forecasting models often fall short in capturing the complex, non-linear dynamics of electricity markets,…
Efficiently accommodating uncertain renewable resources in wholesale electricity markets is among the foremost priorities of market regulators in the US, UK and EU nations. However, existing deterministic market designs fail to internalize…
Wind energy has emerged as one of the most vital and economically viable forms of renewable energy. The integration of wind energy sources into power grids across the globe has been increasing substantially, largely due to the higher levels…
We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads -- i.e., loads minus renewable outputs…
Electricity market operators worldwide use mixed-integer linear programming to solve the allocation problem in wholesale electricity markets. Prices are typically determined based on the duals of relaxed versions of this optimization…
This paper presents a scenario based robust optimization framework for short term energy scheduling in electricity intensive industrial plants, explicitly addressing uncertainty in planning decisions. The model is formulated as a two-stage…
New resource mix, e.g., renewable resources, are imposing operational complexities to modern power systems by intensifying uncertainty and variability in the system net load. This issue has motivated independent system operators (ISOs),…
This paper evaluates market equilibrium under different pricing mechanisms in a two-settlement 100%-renewables electricity market. Given general probability distributions of renewable energy, we establish game-theoretical models to analyze…
Recently, the volatility associated with marginal prices has increased due to large scale integration of renewable generation. Price volatility is undesirable from a consumer perspective. To address this issue, we present a framework for…
We examine the problem of clearing day-ahead electricity market auctions where each bidder, whether a producer or consumer, can specify a minimum profit or maximum payment condition constraining the acceptance of a set of bid curves…
Within the last few years, the trend towards more distributed, renewable energy sources has led to major changes and challenges in the electricity sector. To ensure a stable electricity distribution in this changing environment, we propose…